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If any of the gauges are blinking and going haywire and the security light flashing then the instument cluster is faulty.But if it is just the security light flashing then its in the switch.If you only had the switch replaced then you need a new ignition lock cylinder because its worn out.

The problem is your Vats security system. This causes the car to either "not start" or "shut down" while running. (depending on the system) If the security light flashes, i guarantee that this is what the problem is. 1st trick, turn the key forward 2 clicks till right before it would normally start, leave like that for 10 minutes. ( no less ) After 10 minutes, turn key back then forward and your car might start. Cheap fix: ----- http://vats.likeabigdog.com/ ----- Bypassing the key Never worry again fix: -------- http://newrockies.ca?ap_id=judd0081 ----- With this fix, you can take that whole Vats, passlock, passkey **** system out of your car all together. Good info on both sites

If it's the same as the VATS system in my 86 Corvette (resistor pellet in key) the ignition switch might need to be replaced. The contacts on the key wore low, replacing the key helped for a short time but the new contacts wore the switch down faster then it too needed to be replaced. $200!

I would say you would have to take off the inside door panel and remove the mechanism and security switch to see why it is jammed in a locked position, even though you have unlocked the door the electric switch {maybe rusted} is still signalling a lock position, the switch may be located on the actual key barrel, but same check to see why its not moving into an unlock position.
hope this helps.